State-run Hindustan Petroleum Corp. Ltd (HPCL) posted an 86% jump in first-quarter profit on Wednesday, riding on strong refining margins. The company said net profit jumped to ₹ 1,719 crore in the three months ended 30 June from ₹ 925 crore in the year-ago period.
During Q1, HPCL’s income from operations stood at ₹ 72,923 crore.
Gross refining margin, the difference between the cost of crude oil processed and the prices of refined products, came in at $7.15 per barrel up from $5.86 last year.
“For the year 2018-19, HPCL has planned to invest over ₹ 8,400 crore in various projects across refineries and petrochemicals, marketing, pipelines and natural gas,” the company said in a press statement. Read More
Latest posts by Livemint (see all)
- HPCL Arm Prize Petroleum Takes A ₹ 24.41 Crore Hit - August 20, 2018
- Coal India Expects 367 Mt Output From 115 Projects In 2018-19 - August 20, 2018
- BPCL Mumbai unit to remain shut for at least 2 months after fire - August 18, 2018